AMN / NEW DELHI
The government has reduced the minimum export price (MEP) of onion by 150 dollars to 700 dollars per tonne. Directorate General of Foreign Trade in a notification issued on Friday that this rate will remain in force till 20th of next month.
An MEP is the floor price below which exports are not allowed. Onion MEP was scrapped in December 2015 but brought back in November 2017 with an aim to check rising prices of onion. The government reduced the MEP as the prices has now started moderating.